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Business

Telekom grabs pole in Polish phone market

Deutsch Telekom established itself firmly in the growing Polish mobile phone market by buying up Poland's PTC, the country's largest mobile company. Telekom paid €1.1 billion to increase its 49 percent share in PTC to 100 percent, the company announced Monday. Poland, the largest of the ten new members of the European Union, has attracted a host of Western European companies in recent years itching to get an early start on the competition. Shareholders liked what they saw in the Telekom move: the company's share price went up 1.45 percent Monday.